Decentralized Bitcoin trading, what not to ignore? If you want to trade Bitcoin, scalping, day trading or you are already doing it, here is some important information.
Decentralized Bitcoin trading, what is it and is it possible?
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In the news of decentralized finance, we talk a lot about NFT, Metaverse and other projects, but some people ask the question, is it possible to do decentralized trading and especially on Bitcoin?
While crypto-currencies can be used to purchase everyday items in some stores, they are more commonly traded as digital assets for investment profit.
Impressive profits can be made by buying and selling on crypto-currency exchanges. But prices can be very volatile, so you could lose a lot too.
Bitcoin trading is how you can speculate on the price movements of the crypto-currency without necessarily buying Bitcoin. This is because traditionally, you would have to buy Bitcoin via an exchange, hoping that its price would rise over time. But now, those days are over, currently, crypto-currency traders are increasingly using derivatives to speculate on the rise and fall of prices – in order to make the most of Bitcoin’s volatility and without having to actually buy Bitcoin.
This allows one to trade Bitcoin in one’s own way, scalping, day trading, swing trading as one would with an index or gold.
Some people have already made their experience with a broker, they had to send money, after opening an account, and proceed to a lot of so-called security measures before they could actually trade. Then, once they made money, they were confronted with the broker’s system of clawbacks.
In order to avoid all these procedures, and above all, in order not to need to trust a broker, by sending him his money, more and more traders are turning to decentralized trading.
At present, we can say that a good decentralized trading platform offers scalping, day trading and swing trading, as is the case with gains.trade.
Decentralized Bitcoin trading, the advantages:
The advantages of decentralized trading are obvious:
- no registration, no need to create an account
- high leverage if desired
- no sending money to a broker
- direct trading from your Metamask account, for example
- no need to apply to get your money back
You should know that on some platforms, you can do virtual trading, to familiarize yourself with the platform. Before you start trading for real, this option allows you to get used to the platform, which is recommended.
Another important point, you can also, on some decentralized trading platforms benefit from chat that allows you to communicate with other traders.
Therefore, yes, it is possible to trade Bitcoin on a decentralized trading platform and take advantage of the benefits offered by the blockchain and decentralization.
Now, you know, that when looking to trade Bitcoin, there is an alternative to using centralized exchanges to profit from the rise and fall of its price. You can trade on Bitcoin’s price movements via decentralized and leveraged trading.
For your information, it is possible to trade dozens of different cryptocurrencies as well as Forex.
Interested? Start trading immediately with a few dollars or Euro, test for yourself, start now
Decentralized Bitcoin Trading
Decentralized Bitcoin Trading,
The chart is very clear, it is bearish at the moment and it seems that it is becoming more and more unlikely to go above 31000. This means that if no good news is announced and the stock market starts to stagnate, we could well reach 26000 quickly.
Decentralized Bitcoin daily trading, technical analysis:
The areas to watch are 28000 to 31000 and then 3100 to 35000, an important resistance zone. It would be necessary to succeed quickly to go back above 30000 and defend this price as support. So, to stop the fall, the base support will have to be around 30000 – 310000 very quickly. Otherwise, we could quickly find ourselves at 26000, then 24000 and continue towards 19000 – 21000.
Beware, if the 28000 area gives way, we go directly to 25000 – 26000 and then to 20000, so it is necessary that the price goes quickly to 30000 and that this price becomes the support, but for the moment, we remain bearish and if there is a rebound on 30000, we will have to see if this price becomes a solid support
In the range 28000 to 35000, the daily volatility can be strong, so be careful, because as long as we have not passed the previous high, everything is possible, the movements can be violent, choose your entry point carefully. To position now is a choice, if you invest on the long term, it can be a good price, if on the other hand you trade with a leverage, then be careful, because the risk that the price goes down remains high.
Be careful, you have to wait until you go above 31000 (bullish) and have closed above this price at least once to take a buy position with a quasi-certainty, otherwise, it’s a bit like playing at the casino, which is not trading anymore. For bears, the reasoning is the same if the price goes below 28000 and closes at least two days in a row below this price.
Decentralized trading – no registration
This is not a trading tip, it is just a perspective that may be of interest to you to help you assess the current market situation for yourself.